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According to a new market report published by Credence Research “Global Acidulated Soap Stock Market Growth, Share, Opportunities & Competitive Analysis, 2016 -2023,” the acidulated soap stock market is expected to reach over US$ 1,509.5 Mn by 2023, expanding at a CAGR of 5.3% from 2016 to 2023.

Global acidulated soap stock market revenue is expected to grow at significant rate of 5.3% over the forecast period 2016-2023. Growing demand for animal feed due to increasing agricultural activities is expected to drive the growth of acidulated soap stock market over the forecast period. According to industry experts, animal feed is expected to remain the key driver for acidulated soap stock market coupled with increasing demand for biodiesel owing to various government initiatives especially in region such as North America and Europe. Other factors such as growing array of applications in laundry and dry cleaning, metal finishing compounds, food plant cleaners product is also expected to drive the growth of acidulated soap stock during the forecast period. Growing demand for animal feed products due to growing agriculture industry is expected to fuel the demand for feed market segment over the forecast period. Moreover, increasing demand for meat products, milk, etc. influencing poultry farms owners to use acidulated soap stock feed to keep their animals healthy. This in turn is driving the growth of animal feed product; the segment is anticipated to register high growth especially in emerging economies of Asia Pacific such as India & China over the forecast period. Acidulated Soap Stock finds application in manufacturing natural products. Increasing demand for soap especially in Asia pacific due to rapid growth of population in emerging economies such as India and China is anticipated to fuel the demand for the soap segment in global acidulated soap stock market over the forecast period 2016-2023.

Competitive Insights:

Asia Pacific accounted as the fastest growing region for global acidulated soap stock market. Growing demand for animal feed due to increasing agricultural activities is expected to drive the growth of acidulated soap stock market over the forecast period. Europe accounted as the second largest market for global acidulated soap stock market followed by North America. North America and Europe together accounted for more than more than XX% chunk of the market pie in terms of value and volume in 2015. Both these regions are projected to witness moderate growth rate during the forecast period of 2016 to 2023.